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Important Horizontal Support Confines Further EURCAD Decline

Discussion in 'Technical Analysis' started by Kaitlin, Oct 26, 2015.

  1. Kaitlin

    Kaitlin Forum Member

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    Following its reversal from August highs of 1.5560, the EURCAD kept observing the 1.5100 – 1.4580 rectangle formation; however, last week's comments from ECB, favoring the QE extension, provided considerable weakness to the pair in breaking the mentioned rectangle formation. The pair now rests near 1.4490-80 horizontal resistance-turned-support that is[​IMG]

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